Peterson Foundation Statement on CBO Long-Term Budget Outlook
“Today’s CBO report may not be a surprise, but it should be alarming for all of us," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
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“Today’s CBO report may not be a surprise, but it should be alarming for all of us," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
“Our high and rising debt makes us less prepared for the next pandemic, less secure against future adversaries, less resilient to the changing climate, and less able to build the strong," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for May 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-may-2020
“As we continue to face significant economic turbulence and uncertainty, fiscal confidence is near a record low, because voters know that our growing national debt makes it more difficult to build a strong and stable future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/04/fci-press-release
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for April 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-april-2020
“Americans’ confidence in our fiscal outlook is weighed down by deep concerns about the national debt, an uncertain economic outlook and a lack of fiscal leadership,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/07/fci-press-release
The legislation includes support for families and lower-income households, funding for climate change, infrastructure and healthcare, and a range of other social investments and tax policy. The new spending is mostly, but not fully, offset by other savings in the bill.
https://www.pgpf.org/infographic/what-is-in-the-build-back-better-act
Once we have a plan in place that reduces spending and increases revenues, a strong annual budget process for the government would help us stay on track.
https://www.pgpf.org/budget-basics/fixing-the-budget-process
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for March 2020.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-march-2020